Articles published 6/2017
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Mindy Diamond unleashes her 26-year-old son on Wall Street to cut deals and recruit recruiters
June 30, 2017 at 6:46 PMLouis Diamond has a Manhattan office, an M&A mindset, a willingness to call his mom 'Mindy' and a green-pasture outlook when it comes to the RIA business
How Northwestern Mutual may still get ROI on its $250M LearnVest investment but maybe only by anteing up $50M more
June 28, 2017 at 11:11 PMThe promised January reveal at the financial planning robo never happened but the insurer is using new mother Alexa von Tobel as its sourdough-starter to bake up a venture ecosystem
LPL Financial lets go of David Reich to pull its crucial $135-billion 401(k) division into a central service and branding sphere
June 26, 2017 at 9:34 PMThe head of the unit exits amid advisor chatter that the hyper-channelization of LPL sometimes makes six phone calls necessary when one would do
Power Player: Larry Raffone is racing to 'lock up' the 401(k) market by taking its robo head start and combining it with a semi-national RIA
June 26, 2017 at 6:56 PMOne analyst calls Financial Engines' Personal Advisor a 'massive long-term opportunity' but the rollout is slow and details are scant
A Goldman Sachs team attempts breakaway with a client as stakeholder in new RIA and suffers the consequences
June 22, 2017 at 9:21 PMGrey Street Capital will have to wait until August to solicit former clients -- at the very least
Advizr gets Series A $7-million investment in bid to create software with best of eMoney, MoneyGuidePro and Mint.com rolled into one
June 22, 2017 at 12:28 PMFranklin Templeton, SEI and Fenway Summer place $7-million wager on Hussain Zaidi, a former Ameriprise broker who cites his 'unfair advantage' in starting from scratch against a software category that got going decades ago
The CFP Board's thunderbolt fiduciary play should proceed and likely will
June 20, 2017 at 8:33 PMThe 'fiduciary at all times' approach is likely to be supported by the 77,000 CFPs themselves, if opposed by insurance lobbyists and their ilk
Part of futuristic Pershing Insite 2017 is Mark Tibergien letting RIABiz know that he is intensively grooming his own successors
June 19, 2017 at 11:12 PMThe Pershing Advisor Solutions CEO came aboard in 2007 but he'll leave a much bigger, younger, more feminine, techier unit -- with more of a BNY Mellon feel to it
Triumphant Phil Fiore set to regain $8.4 billion of AUA that UBS stripped away by firing him in November
June 19, 2017 at 2:00 PMReunited with former partners at newly founded RIA Procyon Partners, and despite a last-minute UBS lawsuit seeking a restraining order, the wirehouse veteran appears to be back in the driver's seat
How Wells Fargo is using 'counter-punch' to get unheard-of upper hand in the poaching wars with Morgan, Merrill and UBS
June 15, 2017 at 10:42 PMThe DOL rule, abject opportunism and a little luck give the non-wirehouse wirehouse a window to reverse decades of getting bludgeoned by big checks
The smart beta ETF industry gets blasted at swank Manhattan summit by an unlikely group of critics
June 15, 2017 at 2:44 AMThe active-but-passive category soared from $200 billion to $620 billion in the past four years, but Rob Arnott and other big smart-beta names at Convene were not in a gloating mood
RIABiz to roll out 'Power Players' series -- with irony
June 14, 2017 at 9:56 PMSix RIA companies are driving a mini-renaissance after the 2008-'09 crisis exposed the brokerage industry's dearth of creativity, never mind integrity
Why an RIA's willingness to get fired by clients is a mandatory mindset -- now especially under the DOL rule
June 13, 2017 at 7:11 PMYet the advisor may still be to blame for their own 'principled' dismissal before making a real effort to get at the underpinnings of a client's thinking
Small RIA custodians eye 400-plus RIAs who may come into play thanks to TD Ameritrade-Scottrade deal -- but with a cultivated calm
June 12, 2017 at 7:36 PMAccepting RIA orphans is less automatic than more-the-merrier policy of RIA inclusion that traditionally held sway at TradePMR, Folio Institutional, Trust Company of America, Equity Advisor Solutions and Shareholders Service Group grow, learn and seek profits
Merrill Lynch accepts the slings and arrows of its recruiting pause as it develops compensation plan it knows it can honor
June 9, 2017 at 8:52 PMUBS, Wells Fargo, Morgan Stanley and Ameriprise enjoy a bit of a field day as Merrill Lynch works to get right salary-bonus-grid admixture
Addepar raises $140 million, unveils a very Tesla board member and seeks RIA data utopia
June 8, 2017 at 1:31 PMThe 'D-round' VC raise led by Valor is a 100%-plus jump from the $65.8 million invested to date
Dynasty Financial wins its first Goldman Sachs team -- a Schwab RIA now with $1 billion of UHNW advised assets
June 6, 2017 at 2:15 PMAmid 'uptick' nationally in Goldman Sachs teams bolting, David Darby and Melissa Gray reunite with big help from the New York umbrella firm and Black Diamond software
How number-crunching millennials launched an RIA and where a 72 year-old RIA comes in
June 5, 2017 at 5:08 PMFiduciary Financial got going with a breakaway, a succession deal, a marketing approach and a Glass Door
Joe Duran stops Steve Forbes cold in televised exchange regarding DOL rule
June 2, 2017 at 8:49 PMThe United Capital CEO only had to fire back once to shut down the voluble Forbes publisher
Buried in 11th hour FAQs, Alexander Acosta finally zaps 'warranties' from the DOL fiduciary rule -- at least for June 9 implementation
June 2, 2017 at 6:19 PMThe hyper-explicit fiduciary promises at Obama-era rule's heart survived multiple rounds of edits but quantity and specificity of language surrounding suspension of warranties suggests they'll eventually come back full force
How a Personal Capital exec electrified the NorCal FPA crowd with DOL details, relegating Jeff Gundlach and other stars to a dimmer sparkle
June 1, 2017 at 6:39 PMJohn Castelly elicited a school days nightmare leaving the Bond King to warn about the indexing bubble and Tim Kochis to caution against seeking for yourself in succession search
